Trucks | FoT: Augment, $1T, Valeo/Momenta

Trucks | Future of Transportation for 2025.09.08
FoT is the intelligence arm of Trucks Venture Capital 

Notable:

Porsche 'is no longer a blue-chip company in Germany' as it falls from DAX stock index (link). From an executive friend: 'It makes you wonder whether Porsche should ever have been cast as the spearhead for VW’s electrification strategy. With both Porsche and Audi languishing, why not have Audi be the leading edge on all things EV — really embody its Vorsprung durch Technik ethos. And allow Porsche to maximize IC + PHEV + alternative fuels.’

Musk's new pay performance package would be worth nearly $1T (link). 'Mr. Musk would have to remain at Tesla for at least 7.5 years to cash in any of the shares, and 10 years to earn the full amount. He would also have to meet various very ambitious operational milestones, including overseeing the commercial deployment of 1M autonomous taxis, 1M robots and a more than 24-fold increase in profit.' Every other auto executive making $20M per year in bonuses will look downright picayune in comparison.

New EV charging funding rules favor site hosts like gas stations (link). 'The unfreezing came with a new recommendation from the Federal Highway Administration that states use the money to support charging locations where the charging station operator is also the site host (i.e., property owner). Why that matters: Charging companies rarely own the land where they build their chargers. But gas stations and truck stops typically do (or they lease the land).'

India's honk-happy drivers are switching -- to even louder horns (link). 'Noor Mohammed, who owns a shop here, says their bestsellers can be classified in two types: "titi" horns and "pom pom" horns. The first has a flat tone and is used mostly in bikes, rickshaws and hatchbacks. The second is an air-pressure horn, mostly used in SUVs and buses.'

Interview with Lyft CEO David Risher (link). 'Two and a half years ago we were losing money, consuming cash, not growing particularly fast, not really improving service metrics. It was a story of a company with so much promise that had done so many things well but it got a little bit off track. Now, two and a half years later, we’re seeing more active riders than ever, more drivers than ever, drivers prefer us versus the other guys, and we’re printing cash.'

Once pitched as the 'British Porsche,' Lotus continues to falter under its new ownership (link). The sales targets were so high (150,000 cars by 2025, something like 20x their normal numbers) that even optimists feared the worst: that Lotus would have to start selling bummer SUVs, or cease to exist altogether. I'm not sure which fate is worse for Lotus, since both spell death, depending on the translation.

Hundreds of South Korean workers arrested by ICE at Hyundai's Georgia plant (link). This is a manufacturing facility that Trump had previously lauded.

Video: spinning wheel racing game in Pakistan (link). Via TO. Video: Phil Koopman and Mike Nelson discuss the Benavides v Tesla trial (link).

A look inside Nicola Bulgari's automotive heritage complex in Allenton, PA (link).

M&A / Deals / Changes:

Freight logistics AI startup Augment raises $85M (link). Led by Redpoint.

Freight logistics AI startup Happy Robot raises $44M (link). Led by Base10. Yes, the description of this company is exactly like the one above.

Valeo and Momenta partner on ADAS and AV integrations for China and other markets (link).

African electric motorcycle fleet startup Ampersand raises $7M (link). Led by British International Investment.

Sodium-ion battery startup Natron Energy closes down (link).

EV truck makers Workhorse and Motiv to merge (link).

Board & Executive Changes:

PACCAR: Darrin Siver retires as EVP / John Rich promoted to head Peterbilt Motors, continues as CTO / Laura Bloch promoted to head Kenworth Truck, continues as SVP PACCAR Parts Corporate Quality & Purchasing (link).

Qualcomm: Jeremy Kolter joins board (link).

SES AI: Andrew Boyd joins board, succeeds Michael Noonen (link).

American Battery Technology: Lavanya Balakrishnan joins board, succeeds Sherif Marakby (link).

Amprius Technologies: Sandra Wallach to retire as CFO (link).

Porsche: reportedly looking for new CEO (link).

Curated Jobs:

VP, Business Development at Skyryse in El Segundo, CA, USA or remote (link).

Plant Quality Manager at Flamingo Marine in Germantown, WI, USA (link).

Firmware Engineer at Roadio, remote (link).

Hiring? Post a job (link). If you're a startup, use code 'Trucks' for free standard listings.

Hunting? View all 480 postings on the MobilityJobs job board (link).

New Stuff:

BMW's new iX3: 800V architecture, 400 mile range (link).

Rules for AVs set to soften in 2026 after DoT previews rule changes (link, link to DoT release).

Uber offers Indian driver partners a side hustle: AI data labelling (link).

Patents & Patent Applications:

Ford's patent application shows a TV projection system in a vehicle's liftgate (link).

Rivian's patent application shows a TV projection system perched on the vehicle's gear tunnel (link).

Statistics / Projections:

1 in 5 drivers near school zones is distracted (link). Via David Z / Transportation Research.

US new-vehicle sales rose 3.7% in August from a year earlier (link). Via WSJ / Motor Intelligence. 'Helped by consumers’ rush to lock in expiring EV tax credits and steady prices in the face of tariffs.'

EV charger reliability improving: 'Just 14% of EV owners visited a charger without being able to successfully charge their vehicles, down from 19% last year' (link). Via Automotive Drive / JD Power.

The list price for new tractors rose at least 60% over the last 8 years (link). Via NYT / University of Illinois. 'Some models more than doubling in price, costing at least $250,000 more than they used to.'

EV jobs slipping: 'More than 30,000 workers have lost their positions at electric-vehicle makers and related industries worldwide over the past year' (link). Via Rest of World.

Thank you:

Thank you to Jim Gibbs (link) and Luke Schneider (link) for offers of introductions to new founders, investors and friends over the last week.

Trucks portfolio companies mentioned in this issue:

Roadio (link), Skyryse (link). View the full portfolio of Trucks companies (link).

If you wait, all that happens is you get older (Mario Andretti),

Reilly Brennan